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In numbers: UAE foreign trade soars Dhs5.23tn in 2024

The UAE ranked 11th globally in merchandise exports and 13th in services exports last year

Gulf Business
Gulf Business

21 April, 2025

In numbers: UAE foreign trade soars Dhs5.23tn in 2024
Image: WAM/ For illustrative purposes

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The UAE’s total foreign trade hit Dhs5.23tn ($1.424tn) in 2024 — up 49 per cent from Dhs3.5tn in 2021, according to the WTO’s latest World Trade Outlook and Statistics report.

The surge cements the UAE’s status as the top trade hub in the Middle East and Africa and among the world’s top 20 trade centres for goods and services.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, emphasised the UAE’s role as a global trade hub, saying, “In a world of economic and trade challenges, the UAE has prioritised openness, connectivity, and the free flow of trade, capital, and people, establishing itself as a vital link between East and West and a global economic centre.”

The numbers

  • Trade surplus: Dhs492.3bn in 2024
  • Merchandise exports: Dhs2.22tn
  • Services exports: Dhs646.6bn — including Dhs191bn in digital services (30 per cent of the total)
  • Regional dominance: UAE contributed 41.4 per cent of the Middle East’s merchandise exports
  • Global rankings: 11th in merchandise exports, 13th in services exports

Compared to global standards

While global trade saw moderate growth — 2.9 per cent for merchandise and 6.8 per cent for services — the UAE outpaced trends and reinforced its role as a resilient and adaptive global trade hub.

The country’s strategic investments in digital trade, infrastructure, and connectivity have helped it weather rising tariffs and economic uncertainty.

Milestones achieved

According to Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade:

  1. The country achieved a trade surplus of Dhs492.3bn in 2024
  2. Merchandise exports hit Dhs2.22tn
  3. Services exports stood at Dhs646.6bn, with digital services growing 30 per cent
  4. UAE ranked 21st globally in digital services exports (Dhs191bn), rising from $37bn in 2021 to $52bn in 2024
  5. The nation’s total digital trade hit Dhs345bn, with digital services imports at Dhs154bn, reinforcing the UAE’s standing as a tech-forward economy.

By the sectors

  1. Information services: grew by 14 per cent
  2. Tourism: rose by 13 per cent
  3. Computer services: went up by 12 per cent
  4. Financial services: grew 9 per cent
  5. Transport, IP, insurance: rose by 8 per cent
  6. Services accounted for 26.4 per cent of global trade — the highest since 2005

Looking ahead

Though the UAE’s 2024 trade balance surplus dropped slightly from Dhs573.1bn in 2023, the country remains a key global player:

  • Exports: Dhs2.8619tn
  • Imports: Dhs2.3696tn
  • It contributed 2.5 per cent to global merchandise exports and 2.2 per cent to imports.

Between 2021–2024, the UAE jumped from 17th to 11th globally in merchandise exports and from 18th to 14th in imports.

In services, the UAE advanced from 17th to 13th in exports and 19th to 21st in imports.

The big picture

Global merchandise exports reached $24.43tn in 2024, growing 2 per cent. The UAE’s own merchandise sector saw varied results:

  • Office equipment and telecom: grew by 10 per cent
  • Electronics: rose by 6 per cent
  • Agricultural products, food, clothing: grew by 3 per cent each
  • Industrial goods: went higher by 2 per cent
  • Chemicals and textiles: rose by 1 per cent
  • Fuel, mining, iron, steel and automotive: declined between 1–7 per cent

Foreign trade, GDP: What’s next

Despite a projected 0.2 per cent decline in global trade in 2025, the UAE remains resilient, contributing to a 1.6 per cent regional GDP growth in 2024, with forecasts of 3.2 per cent in 2025 and 3.5 per cent in 2026.

Its strategic vision, diversified economy, and investment in digital infrastructure position it to lead the next phase of global trade evolution.

Dr Al Zeyoudi affirmed, “These achievements stem from national efforts, flexible policies, and strong international partnerships. The UAE will continue to enhance its global role by facilitating trade, expanding collaborations, and integrating with global value chains.”

Read: Abu Dhabi’s non-oil foreign trade touches Dhs306bn in 2024

How entrepreneur Mansi Panchal is dominating the sales game

The CEO of FounderX says she’s on a mission to fill the enormous gap that exists in GCC’s business set-up industry and in sales training to mentor the up-and-rising generation of sales reps

Gulf Business
Gulf Business

21 April, 2025

How entrepreneur Mansi Panchal is dominating the sales game
Images: Supplied

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Sales executive turned entrepreneur Mansi Panchal has boldly made her way down the founder’s world.

Just in her twenties, Panchal has proved that regardless of your age, if you are determined enough, you can achieve your dreams, which is clearly visible with her company, FounderX.

The company helps potential entrepreneurs find their ‘X-factor to venture’, by helping them set up their businesses in the UAE.

Kicking it off as a business set-up advisor in Dubai, Panchal sharply pivoted to sales, where she found her passion: connecting with people. And no, she’s not your ordinary salesperson; she emphasises the art of listening; “God gave us two ears and one mouth for a reason,” she says.

Her USP? Getting in-depth with her clients, finding out what makes her clients tick, and then using that as the ideal insight to seal the deal.

Now, she’s on a mission to fill the enormous gap that exists in GCC’s business set-up industry and in sales training to mentor the up-and-rising generation of sales reps.

Let’s dive into the young entrepreneur’s journey that made her who she is today:

Why sales? What is it about the profession that intrigues you?

Why not? Let’s be real here – this is the sole profession where you get to control a huge chunk of your income and live the life you want.

To me, sales isn’t just about persuading people to buy what you sell, but rather, it’s about the adrenaline and the experience of meeting new people.

Every client is different, and every deal has a thrill of its own. What intrigues me most is getting to know the ‘why,’ and the psychological drive behind each transaction.

How did you manage to stand out in a male-dominated field?

Simply put, it’s more about the mindset than about the gender. I walk into every boardroom knowing my worth, regardless of who is in there; I could be in a room full of men being the only woman with the right sales pitch.

You have to develop an “I will make it happen” mindset. You can’t sit around and wait for an invite to the table, but you have to build your own.

What made you realise you need to offer mentorship to up-and-rising salespeople today?

I started off in the business set-up industry and went ahead with working in sales, I had no mentor to guide me through the thick and thin of sealing deals, but soon, having worked with multiple corporations, both big and small, what made me realise that majority of people didn’t even know what they were selling, and the reason behind that was the lack of sufficient training.

That’s when I mastered the art of sales — through my own experiences (the hard way), and now I want to change that for others.

Now, I even mentor up-and-coming sales pros, guiding them through the crooks of sales strategies and closing deals and teaching them what I wasn’t taught myself; I’ve been doing so by offering free tips and tricks on my social media platforms.

What was your vision behind FounderX?

Having dealt in the business set-up industry for more than six years and engaged with over 4,500 entrepreneurs a year, I realised the existing market gap: buyers not getting in touch with the right sellers, and I saw one too many startups fail.

Ninety per cent of young startups fail solely because founders and teams don’t “sell themselves or their offerings” effectively. This, I think, is not stressed enough.

At FounderX, I focus on understanding the core vision behind an entrepreneur’s business and use that insight to help them identify their “X-factor” — the unique element that drives success.

I aim to create a team that embodies this passion and delivers top-tier service to entrepreneurs, ultimately building a community of skilled sales professionals.

I envision training my team with the passion that gives our clients the best first-hand experience in UAE’s business market – with that, creating a community of killer sales reps.

What’s your driving force as a young entrepreneur?

I really do think everyone has their own vision behind their startups, from following a dream to just simply making more money.

But my vision doesn’t only revolve around monetisation, and this may sound silly, but I really look more for the adventure of doing something new all the time because it really gives me a sense of fulfillment when I set a whole blueprint of an idea and implement it successfully.

I don’t ever believe in stopping at one milestone, but rather always have a new project to work on in my mind while succeeding in my current one.

Would you say you’re an impulsive decision-maker?

I personally don’t mind being impulsive with my decisions – I mean, it’s easy to weigh the pros and cons of your decision if you put your mind to it, and if the pros or cons outweigh one another, that might be a sign on its own.

I do emphasise being objective with my decisions because we obviously can’t make decisions blindly, but I love keeping it spontaneous rather than confining myself to one shell.

What are your views on the business set-up industry in the UAE?

Since I’ve been in the business set-up industry for over six years, I have really seen all the ins and outs of the industry, which widely helped me understand where to and not to put my foot in.

Our role is more than just being sales reps – we play a vital role as consultants, bringing entrepreneurs closer to their business dreams, reflecting on our clarity and transparency, and ultimately building trustworthy relationships.

With the business set-up industry being one of UAE’s fastest growing industries, it’s our responsibility to cater to expat entrepreneurs and help them find success in the country’s competitive market, along with showing the world why they should start their busines in the UAE.

Dubai: New bridge linking Jumeirah Street, Al Mina Street opens

The newly opened structure spans 985 metres, features two lanes, and is designed to handle up to 3,200 vehicles per hour

Gulf Business
Gulf Business

20 April, 2025

Dubai: New bridge linking Jumeirah Street, Al Mina Street opens
Image: Dubai Media Office/ RTA

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Dubai’s Roads and Transport Authority (RTA) has inaugurated a new bridge connecting Jumeirah Street to Al Mina Street in the direction of the Infinity Bridge, a key infrastructure development under Phase 4 of the Al Shindagha Corridor Improvement Project.

The newly opened structure spans 985 metres, features two lanes, and is designed to handle up to 3,200 vehicles per hour, providing smoother traffic flow and improving connectivity in one of the city’s busiest corridors.

Major boost to Dubai’s road network

The bridge is part of a wider effort to enhance mobility and reduce congestion along the Al Shindagha Corridor, a vital artery that stretches 4.8 kilometres from the intersection of Sheikh Rashid Road and Sheikh Khalifa bin Zayed Street to the Falcon Intersection on Al Mina Street.

In line with Dubai’s leadership directives, the RTA is focused on addressing the emirate’s growing urban and population needs through strategic infrastructure upgrades.

The launch of this bridge is expected to have an immediate positive impact, cutting travel time by 67 per cent — from 12 minutes to just four minutes — for vehicles travelling from Jumeirah Street towards Infinity Bridge via Al Mina Street.

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Additional infrastructure underway

Phase 4 of the Al Shindagha Corridor Project includes five more bridges with a combined length of 3.1 kilometres, designed to accommodate a total capacity of 19,400 vehicles per hour.

The overall phase also involves 4.8 kilometres of roadworks and surface intersection improvements on key routes including Jumeirah Street, Al Mina Street, and Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Street.

In addition to vehicular infrastructure, the project includes two pedestrian bridges — one on Sheikh Rashid Road and another on Al Mina Street — aimed at enhancing safety and accessibility for non-motorised users.

Major completion expected

A further highlight of the Al Shindagha Corridor expansion is the upcoming completion of a 780-metre, three-lane bridge by Q2 2025.

This bridge will link Infinity Bridge to Al Wasl Street via Al Mina Street, with the capacity to support up to 4,800 vehicles per hour, significantly strengthening east-west traffic movement within central Dubai.

The Al Shindagha Corridor Improvement Project is among the largest infrastructure initiatives in the region. Upon full completion, the corridor is expected to transform traffic dynamics across the emirate, supporting continued urban growth and economic development.

Read: New Dhs786m bridge to boost Bur Dubai-Dubai Islands connectivity

50 self-driving taxis to hit Dubai roads: Here’s what to expect

The trial phase will begin with 50 autonomous vehicles in the coming months, setting the stage for the public launch in 2026

Gulf Business
Gulf Business

20 April, 2025

50 self-driving taxis to hit Dubai roads: Here’s what to expect
Image credit: WAM/Website

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Dubai’s Roads and Transport Authority (RTA) has signed a Memorandum of Understanding (MoU) to begin the experimental operation of 50 autonomous vehicles in the coming months, paving the way for the official public launch of the service in 2026.

According to a WAM report, the RTA has partnered with Baidu’s autonomous ride-hailing service, Apollo Go—a global leader in autonomous transport solutions—to roll out driverless taxis on a large scale across the emirate.

Read-Dubai speeds up autonomous taxi rollout plans with global tie-ups

The MoU was signed during a ceremony attended by Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors at RTA, and Halton Niu, General Manager of Overseas Business at Baidu’s Intelligent Driving Group (IDG).

On behalf of the RTA, the MoU was signed by Ahmed Hashim Bahrozyan, CEO of Public Transport Agency, while Liang Zhang, General Manager of Overseas Business, MENA, Baidu Intelligent Driving Group, signed on behalf of Baidu. Several representatives from both parties were also present.

Experimental operation

The trial phase will begin with 50 autonomous vehicles in the coming months, setting the stage for the public launch in 2026.

Under the MoU, Apollo Go will deploy the sixth—and latest—generation of its RT6 autonomous taxis, specifically designed for driverless mobility services.

These vehicles feature 40 sensors and detectors to ensure the highest standards of automation and safety. The RT6 model has already achieved significant success and received widespread acclaim from users in China.

The data collection and testing phase will start with 50 vehicles and gradually expand to 1,000 autonomous taxis over the next three years, based on established efficiency and service quality standards.

Apollo Go’s first international expansion

This initiative marks Apollo Go’s first international venture outside mainland China and Hong Kong in testing and operating autonomous vehicles.

To date, Apollo Go has logged over 150 million kilometres of safe driving, supporting large-scale driverless taxi services across multiple cities in China. The company has completed more than 10 million autonomous trips, making it the world’s largest operator of autonomous vehicle fleets.

Al Tayer expressed his satisfaction with the agreement, highlighting Apollo Go as a pioneer of China’s first autonomous taxi service and a leader in integrating artificial intelligence, big data, and automation to shape the smart cities of the future.

“This MoU aligns with the directives of our leadership to strengthen partnerships with global entities and leading companies, positioning the emirate at the forefront of advanced and sustainable transport solutions. It aims to leverage cutting-edge technologies and promote innovative mobility solutions,” said Al Tayer.

He added that the agreement marks a pivotal step in realizing Dubai’s Smart Self-Driving Transport Strategy, which aims to make 25 percent of all trips in Dubai autonomous by 2030. This builds on the RTA’s ongoing efforts in autonomous vehicle trials, which began in 2016.

RTA’s role in advancing autonomous mobility

Self-driving transport is becoming a global reality, with leading companies accelerating the development of enabling technologies and software.

Governments and relevant authorities are simultaneously working on licensing frameworks, infrastructure, and regulatory guidelines for autonomous vehicle operations.

RTA is committed to reinforcing Dubai’s global leadership in autonomous mobility through the testing of various autonomous vehicles, including air taxis and marine transport, in line with its Smart Self-Driving Transport Strategy.

“The collaboration with RTA not only reflects Dubai’s proactive embrace of innovative technology, but also supports the UAE’s ambition to lead in autonomous driving,” said Halton Niu. “Apollo Go is committed to delivering safe, sustainable, and efficient smart mobility services globally.”

Liang Zhang, General Manager of Overseas Business, MENA, at Baidu IDG, added, “Our partnership with RTA marks Apollo Go’s most significant international expansion to date. This collaboration demonstrates Dubai’s strong commitment to next-generation mobility innovation.”

Ahmed Bahrozyan emphasised the societal benefits of self-driving transport, including greater accessibility for children, the elderly, and those unable to drive, while improving road safety and saving time.

“The MoU with Apollo Go is crucial for strengthening cooperation and knowledge-sharing to develop autonomous driving technologies in Dubai,” he said. “This will be achieved through field trials and a roadmap for deploying autonomous taxis.”

Riyadh Air unveils luxe cabin interiors ahead of launch

Each seat is ergonomically crafted with plush foam, premium home-inspired fabrics, and tufted stitching designed for deep, restorative comfort whether you’re sitting or sleeping

Gulf Business
Gulf Business

20 April, 2025

Riyadh Air unveils luxe cabin interiors ahead of launch
Images: Riyadh Air

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Riyadh Air, Saudi Arabia’s ambitious new airline, has unveiled its highly anticipated cabin interiors, aiming to redefine the premium travel experience ahead of its inaugural flights set for later this year.

Positioning itself as the world’s first digital-native airline, Riyadh Air is taking a bold “no legacy” approach as it blends high-end design, advanced technology, and deep cultural inspiration across all cabin classes aboard its Boeing 787-9 fleet.

Innovative and exclusive interiors

The newly revealed interiors emphasise luxury, comfort, and technology, with bespoke seating layouts and immersive entertainment systems designed to elevate the guest journey from booking to arrival.

Riyadh Air’s cabin designs are set to feature consistently across the fleet to offer a unified, quality experience.

“Riyadh Air has always promised to deliver a world-class experience for our guests and the unveiling of our cabin interiors makes this ambition a reality,” said the airline’s CEO Tony Douglas. “From the ergonomic and luxurious fabrics in the seats to the high-end technology used in the entertainment systems, every facet of the cabins has been chosen to deliver relaxing luxury.”

Cabin layout and features

The airline’s Boeing 787-9 aircraft will accommodate 290 guests across four distinct classes:

  • Business elite: Four seats in a private ‘1-2-1’ layout using the Safran Unity Elite seat, featuring 52-inch-high privacy walls, sliding doors, and 78-inch lie-flat beds. A center double-bed option is available.
Business Elite seats
  • Business class: 24 seats also in a ‘1-2-1’ layout, using the Safran Unity model with similar specifications, including 22.5-inch width and 78-inch bed length.

  • Premium economy: 39 seats in a ‘2-3-2’ configuration with Recaro PL3530 seating, 38-inch pitch, 19.2-inch width, and expansive 15.6” 4K OLED touchscreens.
  • Economy: 223 seats in a 3-3-3 layout featuring Recaro R3 seats with a 31-inch pitch and 17.2-inch width, each equipped with a 13.3” 4K OLED screen.

All cabins will include next-generation entertainment systems, customizable lighting, and ergonomic comfort. Riyadh Air’s interiors incorporate a refined color palette — featuring dark indigo, mocha gold, lavender, and skyline blue — reflecting Saudi heritage and Riyadh’s cultural identity.

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Technology-driven guest experience

As part of its digitally native strategy, Riyadh Air will offer free high-speed Wi-Fi via Viasat for all loyalty members, with full gate-to-gate streaming, browsing, and gaming capability.

Live TV streaming on seatback screens will also be available.

Riyadh Air is also the first to adopt Panasonic Avionics’ Modular Interactive (MI), a cutting-edge IFE design tool allowing rapid updates to match passenger trends and seasonal promotions.

A standout feature is the collaboration with Devialet, the French acoustic pioneer, integrating high-fidelity sound into Business Elite and business class headrests, offering immersive audio without the need for headphones.

Attention to detail

Premium cabin finishes include mocha gold and veined stone accents, with privacy-focused design elements and expanded personal storage.

Premium economy seats offer calf rests, side table extensions, and four USB-C charging points.

Economy guests benefit from six-way adjustable headrests and two USB-C ports per seat.

Lighting adjusts throughout the flight to align with natural circadian rhythms, enhancing onboard well-being and creating a calming ambiance.

Riyadh Air: Recent milestones

Riyadh Air, which recently obtained its air operator certificate (AOC) and received its first technical spare aircraft, is expected to announce its route network and launch date in the coming months.

The airline is also preparing to unveil Version 3.0 of its digital guest journey, aligning with its vision of seamless and intuitive travel.

ORA Developers accelerates UAE growth with new headquarters, key appointments

The new headquarters reinforces ORA Developers’ strategy when it comes to regional expansion

Nilufer Najeeb
Nilufer Najeeb

18 April, 2025

ORA Developers accelerates UAE growth with new headquarters, key appointments
Engineer Naguib Sawiris, chairman and CEO of ORA Developers.

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ORA Developers has established its UAE headquarters at One Central, in Dubai’s central business district.

This move reinforces ORA Developers’ regional expansion while directly supporting the UAE’s vision for sustainable, future-ready urban environments that drive economic growth.

Founded by Engineer Naguib Sawiris, ORA Developers has a global portfolio spanning residential, hospitality, commercial, and entertainment.

With a land bank of over 76 million sqm, ORA Developers has a global portfolio spanning 17 projects across seven countries, with an estimated total sales value of over $45bn.

Industry forecasts indicate that the UAE’s real estate market is on a robust growth trajectory, with a projected increase in total market value from $704.25bn in 2024 to $1.08tn by 2030.

Engineer Naguib Sawiris, chairman and CEO of ORA Developers, emphasised the significance of the new headquarters.

He stated that establishing this regional hub is a step that aligns with the UAE’s long-term vision for urban development in a fast-evolving real estate landscape.

This hub strengthens their ability to deliver innovative, future-ready communities and allows them to integrate global best practices with the UAE’s dynamic market needs.

By prioritising nature, connectivity, and design, they are committed to shaping sustainable, well-balanced developments.

Their leadership team’s extensive experience and long-standing commitment have been instrumental in building their diverse portfolio, driving growth, and ensuring the successful execution of transformative projects, said Sawiris.

Since entering the UAE in 2023, ORA Developers has rapidly scaled its presence acquiring prime land, obtaining regulatory approvals, and laying the groundwork for transformative developments.

The company built its UAE team from the ground up-growing to nearly 94 employees, with plans to at least triple by the end of 2025. By combining local market expertise with a seasoned leadership team, ORA Developers has established a robust foundation for operational continuity and sustained growth.

Driving the UAE expansion a leadership team with expertise through development, sales, branding, marketing and finance. Khaled Morgan, chief development officer, ensures delivering unique and innovative urban experiences, while Ahmed Samir, chief human resources officer, drives talent acquisition in the UAE to support rapid scaling.

Expanding on this foundation, Tamer Fikry, chief sales officer, enhances investor engagement, Mohamed Sheta, chief financial officer, leads financial strategy, and Lana Sawiris, chief brand officer, alongside Rasha Georgy, chief marketing officer, shapes global positioning. Amr Abdelmoneim, chief technical officer, oversees engineering and execution, maintaining top industry standards.

The company will soon announce its major investment in the UAE: a 4.8 million square meter master-planned community located in Ghantoot.

This strategically positioned project, situated between Abu Dhabi and Dubai, will feature 1.2km of prime Arabian Gulf beachfront. To ensure dedicated client and stakeholder engagement, the company will establish customer experience centers in both Abu Dhabi and Dubai.

ORA Developers is also a strategic investor in Discovery Dunes, a project by Discovery Land Company.

The ultra-luxury community is designed around a championship golf course by Tom Fazio. This project further validates ORA’s strategic investment decisions in the sector and the UAE market.

With its strengthened presence in the UAE, ORA Developers remains committed to creating forward-thinking, balanced communities that seamlessly integrate nature, connectivity, and modern infrastructure.

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